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Atchison officials review plan for $1.8 million street bond and schedule for issuance
Summary
City staff and Stifel Nicholas presented a preliminary financing plan for a proposed $1.8 million, 10-year general obligation bond to fund prioritized street improvements; commissioners were told key steps include Feb. 17 commission actions, an April 6 bond sale and an April 29 closing.
City staff and David Arterberry of Stifel Nicholas presented a financing plan for a proposed general obligation bond to fund a prioritized list of street projects across Atchison. Arterberry said the “principal amount is estimated to be $1,800,000 and it's a 10 year issue,” and outlined a timeline that includes commission review on Feb. 17, a bond sale on April 6 and an expected closing on April 29.
Arterberry and city staff said the proposed issuance would cover a broader set of projects than the 2023 bond (about $1.4 million) and that some lower-priority segments might roll into 2027 because sidewalk and curb work funded by separate state grants must be completed first. Commissioners pressed staff about KDOT responsibility for parts of Woodlawn and the budget impact of new debt service; staff said state gas-tax distributions offset a significant portion of street-bond debt service but the new debt will need to be accounted for in the 2027 budget.
